Charlie Munger (voice over): "OK Angels. We're going after these creeps who are targeting teachers with crap products for their 403(b) plans. The high fees, sales commissions and surrender charges must stop. Just remember you’re angels of justice, not angels of vengeance."
Bosley: "You'll find these 403(b) predators lurking around places like teachers lounges. These salespeople know which 403(b) plans aren't subject to ERISA."
Charlie Munger (voice over): "Make sure teachers know that where you find complexity, there is often fraud and mistakes."
Charlie Munger (voice over): "Make sure teachers know that where you find complexity, there is often fraud and mistakes."
Charlie Munger (voice over): "We’ve done a lot of preaching about investing to little effect. What I see now reminds me of Sodom and Gomorrah. Even if they only mix a moderate amount of turds with the raisins in the 403(b) the results aren't remotely acceptable. Time for action."
